L&T and Hitachi Energy Seal 2 GW Offshore Wind FCA with TenneT, Advancing Europe’s 8 GW HVDC Renewable Integration

• L&T announces the successful conclusion of the Framework Cooperation Agreement (FCA) for 2 GW offshore wind programme with TenneT.

L&T, in consortium with Hitachi Energy, entered into FCA covering in principle six projects and future opportunities under TenneT’s ambitious 2-GW HVDC programme. The framework is designed to support large-scale integration of offshore renewable energy and accelerate Europe's transition towards a sustainable and decarbonised clean energy future.

According to L&T's order classification, the order venue is more than ₹15,000 Crore.

As part of the programme, the consortium will continue the execution of two ongoing projects – IJmuiden Ver Alpha and Nederwiek 1 – in the Netherlands. In addition, the consortium will commence two new projects, Nederwiek 3 in the Netherlands and LanWin 5 in Germany.

Together, these projects represent a cumulative transmission capacity of 8 GW operating at 525 kV. The projects will enable the transfer of renewable energy generated in the Dutch and German sectors of the North Sea to the onshore power grids.

Under the engineering, procurement, construction and installation scope, L&T will execute the offshore converter platforms and associated infrastructure, while Hitachi Energy will provide its HVDC Light® technology for efficient power conversion and transmission.

Combining L&T’s offshore engineering and project execution expertise with Hitachi Energy’s advanced power transmission capabilities, the consortium is uniquely positioned to deliver reliable HVDC infrastructure that will accelerate Europe’s renewable energy transition and support its decarbonisation goals.

L&T's Offshore Wind business vertical is backed by multidisciplinary engineering expertise through its engineering centre of excellence in India and Sharjah, UAE, strategic global partnerships, a robust supply chain ecosystem and world-class modular fabrication facilities in Kattupalli, India. These strengths enable the delivery of complex offshore structures to the highest standards of safety, quality and sustainability.

This landmark programme further strengthens L&T’s international footprint and positions the company at the forefront of developing sustainable offshore energy infrastructure for a net-zero future.

Background:

Larsen & Toubro is a USD 32 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing, Products and Services, operating across diverse domains and multiple geographies. With a strong impetus towards AI & technology, customer–focussed approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

Tata Power Plans First Solar Exports To Europe, As EU Seeks Shift Beyond China

Tata Power is preparing to export solar equipment to Europe for the first time taking advantage of the European Union’s push to reduce dependence on Chinese suppliers under the Net-Zero Industry Act, reported Reuters citing CEO Praveer Sinha. In 2023, nearly 94 percent of the EU’s solar modules and cells were imported from China, but new diversification policies and trade agreements have opened the door for Indian manufacturers. Italy has already created space for non-Chinese solar projects, making it a key entry point for Tata Power.

The company currently has 4.9 GW of integrated cell and module capacity and is working toward expanding to 10 GW of ingot and wafer production. Its initial export target is between 2 and 3 GW of solar cells and panels to Italy, with potential expansion across Europe. India’s broader solar manufacturing base, with 200 GW of module capacity and 30 GW of cell capacity, positions the country as a credible alternative supplier.

While this marks a significant opportunity for India’s renewable sector, challenges remain. Chinese modules are still cheaper, and EU certification requirements could slow entry. Tata Power’s ability to scale production quickly will be critical to meeting demand. If successful, this move strengthens India’s role as a global renewable hub and aligns with its domestic clean energy ambitions while opening new export revenue streams.

The India-EU Trade Deal

India and the European Union concluded negotiations for a landmark Free Trade Agreement (FTA) in January 2026, with formal signing scheduled by the end of 2026 and implementation in early 2027. The deal grants duty‑free access to 93% of Indian exports to the EU and significantly lowers tariffs on European goods entering India.

Key Features of the India–EU Trade Deal 2026

Market Access

• Indian exports: About 93% of shipments will enter the EU with zero duties, covering textiles, leather, marine products, gems, jewellery, and other labour‑intensive sectors.
• EU exports: Tariffs will be eliminated or reduced on 96.6% of EU goods exports to India, saving European exporters an estimated €4 billion annually.

Tariff Reductions

• Luxury cars: Import duties in India will drop from 110% to as low as 10% over time.
• Wines: Tariffs reduced from 150% to 75% initially, eventually reaching 20%.
• Olive oil: Duties cut from 45% to zero within five years.
• Processed foods: Tariffs up to 50% eliminated.

Strategic Impact

• Creates one of the world’s largest trade partnerships, covering nearly 2 billion people and about 25% of global GDP.
• Strengthens supply chain resilience, technology collaboration, and investment flows under the India–EU Trade and Technology Council.
• Positions India as a major hub for clean energy, biotech, semiconductors, and services exports, while giving EU firms privileged access to India’s fast‑growing market.

Comparison: Benefits for India vs EU

Benefit	India	EU
Export Access	93% duty‑free entry into EU	Wider access to Indian services market
Tariff Savings	Boost for textiles, gems, marine products	€4 billion annual savings on duties
Luxury Goods	Cheaper imports of cars, wines, olive oil	Expanded consumer base in India
Strategic Position	Integration into EU value chains	Doubling of goods exports to India by 2032

India Showcases Innovation at Europe’s Biggest Tech Fest

Union Minister Piyush Goyal inaugurated the India Pavilion at VivaTech 2026 in Paris, marking India’s role as the Official AI Partner Country at Europe’s largest technology and innovation event. The pavilion highlights India’s leadership in AI, digital innovation, and startup ecosystems, while strengthening India–France collaboration in technology and sustainable growth.

VivaTech is known for spotlighting cutting‑edge startups, global tech leaders, and breakthrough innovations, so India’s presence there signals both confidence and ambition in expanding its innovation footprint globally.

This move also reinforces India’s strategy of connecting its DeepTech ecosystem with international investors, industry partners, and research networks — much like what we saw at Bharat Innovates 2026. It’s not just about showcasing technology; it’s about building cross‑border partnerships and positioning India as a global hub for innovation.

Union Minister Piyush Goyal Inaugurates India Pavilion at VivaTech 2026

India’s Strategic Presence at VivaTech 2026

• Official Partner Country: India was named France’s Official AI Partner Country at VivaTech 2026, underscoring its global leadership in artificial intelligence and digital innovation.
• Theme – Tech for Humanity: The India Pavilion showcased technology designed to empower citizens, drive inclusion, and solve challenges at scale, reflecting India’s vision of human‑centric innovation.
• Largest National Pavilion: India’s pavilion was among the largest at the event, featuring startups, unicorns, ministries like DPIIT and MeitY, and industry leaders across AI, SpaceTech, HealthTech, ClimateTech, and cybersecurity.

Key Highlights from the Inauguration

• Ministerial Engagements: Piyush Goyal met global leaders, including L’Oréal CEO Nicolas Hieronimus, to explore collaborations in beauty‑tech innovation, skill development, and manufacturing under Make in India.
• India–France Partnership: Alongside French Minister Anne Le Hénanff, Goyal reaffirmed the India–France Year of Innovation 2026, emphasizing cooperation in AI, digital resilience, and sustainable technology.
• Vision of MANAV AI: Goyal introduced India’s concept of “MANAV” — ethical, accountable, inclusive, and trustworthy AI — positioning India as a hub for responsible AI talent and advanced technologies.

Why This Matters

• Global Innovation Hub: India’s participation signals its ambition to be a preferred destination for innovation, manufacturing, and investment.
• Startup Ecosystem Showcase: The pavilion highlighted India’s vibrant startup culture, rapidly expanding digital economy, and deep‑tech advancements.
• Strengthened Bilateral Ties: The India–France partnership in AI and technology is set to create new opportunities for startups, universities, and research institutions.

Looking Ahead

• India’s presence at VivaTech 2026 is more than symbolic — it is a strategic move to attract global investments, promote technology exports, and foster international partnerships.
• With its young talent pool, strong digital infrastructure, and commitment to ethical AI, India is positioning itself as a global leader in innovation for humanity’s benefit.

The inaugural ceremony brought together key voices from the global innovation ecosystem, with inspiring remarks from Shri Piyush Goyal, Hon’ble Union Minister of Commerce & Industry, Government of India; Ms Anne Le Hénanff, Digital Minister of France; Professor Ajay Kumar Sood, Principal Scientific Adviser, Government of India; Mr Nicolas Douchement

Chief Business and Experience Officer, VivaTech; along with the welcome address by Amb. Jawed Ashraf, Chairman, India Trade Promotion Organisation (ITPO).

TCS Unveils SovereignSecure Cloud™ in Europe to Power Digital Autonomy and Compliance

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has expanded its global cloud portfolio with the launch of SovereignSecure CloudTM in Europe. This bespoke offering, designed specifically for governments, public sector enterprises, and regulated industries, combines sovereign cloud architecture with AI capabilities to enable sovereignty across data, operations and digital infrastructure.

In the European Union (EU), the offerings will enable enterprises to achieve digital autonomy, strengthen regulatory compliance and enhanced security in an increasingly complex global environment without compromising on the speed, agility, and interoperability essential to modern businesses. The launch of TCS SovereignSecure CloudTM in the EU builds on its successful rollout in India in 2025, followed by expansions into Kenya, East Africa and the Philippines.

TCS SovereignSecure CloudTM for the EU has been designed to provide strategic autonomy through a multi-layered approach. It comprises a sovereign cloud layer delivered through hyperscalers, providing scale and the flexibility to operate securely within the EU regulatory framework. The national sovereign cloud layer enables country-specific localization while bringing operations under a unified control plane. And its enterprise cloud services layer leverages the EU-specific TCS Enterprise Cloud Framework, a unified orchestration and control layer that enables enterprises to dynamically apply the appropriate level of sovereignty across data, operations, and technology based on workload, risk, and sector.

Sapthagiri Chapalapalli, Head of Europe, TCS, said, “European organizations are looking to strike a balance between addressing supply chain and sovereignty risks while ensuring leverage of frontier technologies to be globally competitive. TCS SovereignSecure Cloud solutions mark an important milestone for TCS in Europe, as our customers can now benefit from a pragmatic approach to cloud that ensures resilience and sovereignty that is contextualized to the enterprise.”

TCS is also introducing the TCS Sovereignty Consulting and Delivery Framework in the EU to help organizations become a "minimum viable sovereign enterprise" by finding the right balance between control and flexibility. It recognizes that not all workloads need the same level of sovereign protection. Using a practical, risk-based approach, it categorises workloads by importance and applies the right level of sovereignty to each, focusing effort where they deliver the greatest impact and risk mitigation.

As enterprises and governments across Europe accelerate their digital transformation journeys, the need for secure, compliant and sovereign cloud architectures has never been more critical. With SovereignSecure CloudTM, TCS is bringing together the scale of hyperscalers, localized sovereign controls, and AI-led capabilities to help organizations achieve digital autonomy without compromising on agility, innovation or operational resilience.

This new TCS SovereignSecure CloudTM offering leverages TCS’ strength in the European region, enabling organizations to innovate and grow with more flexibility. Operating in Europe for over 45 years, TCS has a diverse workforce operating from 58 offices across the region. TCS drives digital transformation for some of Europe’s leading multinationals adapting to the changing digital landscape of today across industries such as banking and financial services, manufacturing, telecom, retail, travel, logistics, and more. TCS is committed to serving as a trusted IT service provider across its TCS European Delivery Network of 10 data centres and 21 delivery locations across Europe.

Infosys Expands Into Switzerland to Drive AI-Led Enterprise Growth

Infosys has officially expanded its European presence by opening a new office in Zurich, Switzerland, aimed at accelerating enterprise adoption of AI and digital transformation solutions. This move strengthens Infosys’ footprint in the region and supports Swiss businesses in their AI-driven growth journeys.

Key Highlights of Infosys’ Zurich Expansion

• New Zurich Office: Positioned to serve as a hub for enterprise AI journeys and digital innovation.
• Strategic Goal: Accelerate adoption of Infosys Topaz, the company’s AI-first suite leveraging generative AI technologies.
• Local Impact: Supports Swiss enterprises in sectors like banking, telecom, and manufacturing.
• European Growth: Part of Infosys’ broader strategy to deepen its presence across Europe.

Why Zurich?

• Financial & Tech Hub: Zurich is Switzerland’s largest financial center and a growing technology hub.
• Talent Pool: Access to highly skilled professionals in AI, data science, and enterprise IT.
• Client Proximity: Close to major Swiss corporations, including banks, insurers, and telecom providers.

Partnerships & Collaborations

• Infosys has expanded collaboration with Sunrise, Switzerland’s second-largest telecom operator, to integrate AI and analytics solutions.
• The Zurich office will likely serve as a base for such partnerships, enabling co-innovation with Swiss enterprises.

Strategic Importance

Factor	Impact
AI Adoption	Helps Swiss companies accelerate digital transformation with Infosys Topaz.
European Expansion	Strengthens Infosys’ footprint in continental Europe.
Client Engagement	Provides closer proximity to Swiss and EU clients.
Innovation Hub	Supports co-creation of AI-driven solutions with local partners.

Risks & Considerations

• Competition: Zurich hosts many global IT consultancies, so Infosys must differentiate with AI-first offerings.
• Regulatory Landscape: Switzerland’s strict data privacy and compliance standards require Infosys to adapt its AI solutions carefully.
• Talent Retention: High demand for AI talent in Zurich may pose recruitment challenges.

Bottom Line: Infosys’ new Zurich office is a strategic move to cement its role as a leader in AI-driven enterprise transformation in Europe. It positions Infosys to compete strongly in Switzerland’s digital economy while expanding its global innovation network.

Tech Mahindra and Shipsy Partner to Build AI-Native Supply Chain Ecosystem Across UK and Europe

Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions, has announced a strategic partnership with Shipsy, a Gartner-recognized AI-native transportation management platform, to accelerate AI-led innovation in the UK and Europe’s supply chain sector.

The collaboration aims to address mounting pressures on supply chains—ranging from cost and speed to sustainability and geopolitical uncertainty—by embedding scalable, responsible AI into logistics workflows. This initiative is part of Tech Mahindra’s “AI Delivered Right” strategy, which focuses on delivering transformative, enterprise-grade solutions that enhance visibility, optimize operations, and enable intelligent decision-making.

Our partnership with Shipsy helps customers navigate today’s supply chain challenges by building an AI-native ecosystem that empowers businesses to operate with precision, agility, and resilience, said Harshul Asnani, President and Head – Europe Business, Tech Mahindra.

Shipsy’s platform, recognized in Gartner’s 2024 and 2025 Magic Quadrants for Transportation and Warehouse Management Systems, leverages Agentic AI to drive autonomous logistics transformation for over 150 customers across 30+ countries. The company operates from hubs in London, Amsterdam, Riyadh, Dubai, Singapore, and Sydney, with innovation centers in India.

A key highlight of the partnership is its role in empowering Smiths News, a leading UK distributor of newspapers and magazines, to diversify its early-morning delivery portfolio using AI-driven precision. With the UK ranked as the third-largest e-commerce market globally and projected to reach $927.9 million by 2030, the alliance is expected to deliver significant value to retailers and logistics service providers.

We are delighted to partner with Tech Mahindra to bring AI-native solutions to the European supply chain landscape, said Soham Chokshi, Co-Founder & CEO of Shipsy. This alliance will enable enterprises to scale intelligently, make logistics management autonomous, and deliver exceptional customer experiences.

The partnership underscores a broader industry shift toward intelligent, resilient, and customer-centric supply chain operations—driven by AI and digital transformation.

Vodafone Expands in Eastern Europe with $32M Telekom Romania Buy

Vodafone Romania has signed a binding agreement to acquire key assets of Telekom Romania Mobile Communications from Greek telecom group OTE and Deutsche Telekom, in a joint €70 million ($75M) transaction with Digi Romania.

Digi Romania is the Romanian branch of Digi Communications N.V., a publicly listed telecom group headquartered in Bucharest, with its statutory seat in the Netherlands. Founded in 1994, Digi is one of Romania’s largest telecom operators and has expanded operations across Spain, Italy, Portugal, and Belgium.

Deal Breakdown

• Vodafone’s Share: €30 million (~$32M) for postpaid customers, retail network, business clients, and infrastructure.
• Digi’s Share: €40 million (~$43M) for prepaid services, spectrum licenses, towers, and related equipment.
• Completion Timeline: Early October 2025
• Regulatory Approval: Cleared by Romania’s Competition Council in July

Strategic Impact

• Vodafone strengthens its local footprint, adding ~2 million customers to its existing 6.3 million base.
• Romania’s mobile market consolidates to three major players: Vodafone, Digi, and Orange.
• OTE gains tax exemptions worth over €100 million and future cash flow savings.

Financial Summary

Buyer	Assets Acquired	Value
Vodafone	Postpaid customers, retail, infrastructure	€30M (~$32M)
Digi	Prepaid services, spectrum, towers	€40M (~$43M)

Executive Commentary

“This transaction strengthens our position in Romania by increasing our local scale and unlocking significant synergy benefits.” — Margherita Della Valle, CEO of Vodafone Group

Schneider Electric and NVIDIA Team Up to Power €200 Bn AI Revolution in Europe

• R&D initiatives underscore companies’ commitment to co-developing new cooling, power, building management and control systems for digital and physical AI data centers
• Schneider Electric announces launch of new NVIDIA-enabled rack solution

Schneider Electric, the leader in the digital transformation of energy management and automation, today announced it is collaborating with NVIDIA to serve the growing demand for sustainable, AI-ready infrastructure. Together, Schneider Electric and NVIDIA are advancing research and development (R&D) initiatives for power, cooling, controls, and high-density rack systems to enable the next generation of AI factories across Europe and beyond.

This unique global partnership, announced during NVIDIA GTC Paris, brings together the world leaders in sustainability and accelerated computing to support the European Union’s AI infrastructure ambitions and its “InvestAI” initiative, which plans to mobilize a €200 billion investment in AI.

Leveraging its expertise in AI-ready infrastructure, sustainability, and grid coordination, Schneider Electric and NVIDIA are together responding to the European Commission’s “AI Continent Action Plan,” which outlines a shared mission to set up at least 13 AI factories across Europe, while establishing up to five AI gigafactories.

“Schneider Electric and NVIDIA are not just partners — our teams are driving advanced R&D, co-developing the infrastructure needed to power the next wave of AI factories globally,” said Olivier Blum, CEO of Schneider Electric. “Together, we’ve seen tremendous success in deploying next-generation power and liquid cooling solutions, purpose-built for AI data centers. This strategic partnership — bringing together the world leaders in sustainability and accelerated computing — allows us to further accelerate this momentum, pushing the boundaries of what’s possible for the AI workloads of tomorrow.”

“AI is the defining technology of our time—the most transformative force reshaping our world,” said Jensen Huang, founder and CEO, NVIDIA. “Together with Schneider Electric, we are building AI factories: the essential infrastructure that brings AI to every company, industry, and society.”

New NVIDIA-Enabled Infrastructure Solutions

In support of today’s announcement, Schneider Electric has also unveiled a suite of AI-ready data center solutions, including new EcoStruxure™ Pod and Rack Infrastructure. Designed to accelerate AI developments globally, the Prefabricated Modular EcoStruxure Pod Data Center is a scalable, pod-based architecture, enabling rapid AI data center deployment.

As part of this, a new Schneider Electric Open Compute Project (OCP) inspired rack system has also been developed to support the NVIDIA GB200 NVL72 platform that uses the NVIDIA MGX modular architecture, integrating Schneider Electric into NVIDIA HGX and MGX ecosystems for the first time.

These announcements build on a series of milestones shared by the two global leaders earlier this year, including Schneider Electric and ETAP unveiling the world’s first digital twin for electrical and large-scale power systems in AI factories using the NVIDIA Omniverse Blueprint.

Together, Schneider Electric and NVIDIA have also co-developed a series of full electrical and liquid cooling-based reference designs as an approved CDU vendor for NVIDIA — many of which also include solutions from Motivair’s liquid cooling portfolio, following its acquisition by Schneider Electric in March 2025.

Through this expanded and deepened strategic partnership, Schneider Electric and NVIDIA will continue to accelerate their infrastructure initiatives, fast-tracking new product rollouts and reference designs to build the AI factories of the future.

TCS Powers Ahead in Software-Defined Vehicles with European Expansion

Tata Consultancy Services (TCS) has taken a strategic leap in the global automotive software arena by announcing the launch of three new hubs in Europe, dedicated to advancing Software-Defined Vehicle (SDV) innovation.

The new footprint includes two Automotive Delivery Centres in Germany—Munich and Villingen-Schwenningen—and an Engineering Centre in Romania. These hubs are designed to support leading European original equipment manufacturers (OEMs) in building next-generation mobility solutions.

TCS is focusing on technologies like autonomous driving, intelligent infotainment systems, connected vehicle ecosystems, and digital cockpit design. The Romanian centre will concentrate on early-stage SDV platform development, while the German hubs will offer close-proximity support to European automotive partners.

A highlight of this initiative is the integration of Generative AI to dramatically accelerate vehicle software development. GenAI tools will automate requirement gathering, feature coding, testing, and simulation—reducing cycle times and enabling rapid over-the-air (OTA) updates.

TCS’s GenAI capabilities are also enabling hyper-personalization, creating in-car experiences that adapt to driver preferences and behaviors. Engineers can now simulate millions of driving scenarios virtually, boosting validation and safety for semi- and fully-autonomous features.

With over 100 engineers already stationed across these new centres and a global talent pool of 2,000+ SDV experts, TCS aims to redefine how vehicles evolve post-sale—from fixed mechanical products to software-first platforms.

Notably, this signals a major vote of confidence in India's engineering talent and its exportable innovation prowess. It also opens up opportunities for domestic automakers to integrate advanced software systems, bringing global expertise back to India’s rapidly growing electric and autonomous vehicle ecosystem.

Adani Group Plans to Invest $2 Bn in Acquiring Ports in Europe

The Adani Group has announced plans to invest $2 billion in acquiring ports in Europe, reported The Hindu. This move is part of their strategy to expand their international presence and boost their market share in global sea trade.

The company's flagship, Adani Ports & Special Economic Zones Ltd., is actively scouting for terminals in Europe, which accounts for 40% of global sea trade.

Key Points:

• Target: Two or three terminals in Europe
• Market Share: Currently holds a 27% market share in India, aiming to increase it to 40% by 2030.
• Expansion: The company already has ports in Sri Lanka, Israel, Australia, Tanzania, and Greece.

Recently, in last month, Adani Group Chairman Gautam Adani hosted ambassadors from the European Union, Belgium, Denmark, and Germany at the company's office in Gujarat. The delegation toured the Adani Group's renewable energy park in Khavda and the port, logistics, and industrial hub in Mundra.

The Adani Group has several plans and projects in Europe, including wind and solar power station project in Morocco to produce green hydrogen for Europe. The Indian group also has a plan to scale up green hydrogen production to meet the European Union's Renewable Fuels of Non-Biological Origin (RFNBO) requirements.

This investment is expected to enhance Adani Group's capabilities and strengthen its position in the international maritime industry.

The Adani Group has several notable international ventures across various sectors. Adani aims to develop 10 GW of hydroelectric projects across Nepal, Bhutan, Kenya, Tanzania, the Philippines, and Vietnam.

The 1,600 MW Godda plant in Jharkhand, India, exports power exclusively to Dhaka, Bangladesh.

Besides, Adani Ports holds a 70% stake in Haifa Port, acquired for $1.2 billion in partnership with Israel's Gadot Group.

Vodafone Offers Alternative Path for Mumbai–Europe Connection With New IEX Undersea Cable Station At Greece's Crete Island

Vodafone Lands India-Europe-Xpress (IEX) Cable in Tympaki Crete for Alternative Path of Connectivity

Vodafone Greece has successfully connected the island of Crete to the India-Europe-Xpress (IEX) subsea cable system. This new connection is facilitated by a newly constructed landing station in Tympaki, located on the Crete island's southern coast.

The new landing station at Crete Island offers increased data capacity and network resilience to Crete's infrastructure. Landing stations play a critical role in enabling global communication and internet connectivity by facilitating the connection of subsea cables to terrestrial networks

The IEX connection provides an alternative path for data traffic that bypasses the traditionally crowded northern Mediterranean routes. This can help reduce congestion and improve data transfer speeds and reliability.

The IEX subsea cable system, which spans nearly 10,000 kilometers, connects Mumbai to Europe and extends to regions across Asia, Africa, and the Middle East . This new route provides an alternative path for data traffic, bypassing the traditionally crowded northern Mediterranean routes.

The Tympaki landing station is located in southern Crete, away from the northern part of the island where most subsea cables have been concentrated. This strategic positioning helps diversify the network and provides additional redundancy.

A landing station, also known as a cable landing station (CLS) or submarine cable station, is a facility located at the coastline where undersea fiber optic cables carrying international telecommunications and internet traffic are connected to terrestrial networks.

Landing stations serve as the endpoint for submarine cables that span across oceans and seas, connecting different countries and continents. They provide the interface between the submarine cables and the terrestrial infrastructure, allowing data and communication signals to be transferred to local networks.

These stations enable connectivity to various services, such as internet service providers (ISPs), telecommunication networks, and other data centers.

This new development strengthens the connectivity between India and Europe, providing an alternative route for data traffic that bypasses the traditionally crowded northern Mediterranean routes. This can lead to improved data transfer speeds and reliability for users in both regions.

For Vodafone Idea, this expansion aligns with their commitment to enhancing global connectivity. It positions Vodafone Idea as a key player in the global telecommunications network, potentially attracting more customers and partnerships. The connection integrates Vodafone Idea into a global network that spans multiple continents, providing more robust and diverse connectivity options for customers.

Overall, the new connection via the IEX landing station in Crete enhances Vodafone's network infrastructure, offering improved connectivity, increased capacity, and greater resilience compared to existing connections.

AMD Acquiring EU's Largest Private AI Lab for $665 Mn To Expand Enterprise AI Solutions Globally

AMD has recently made a announced that it is expanding its enterprise AI solutions by acquiring Silo AI, Europe's largest private AI lab. In an all-cash transaction valued at approximately $665 million, AMD is set to enhance its open-source AI software capabilities for efficient training and inference on AMD compute platforms.

Silo AI, based in Helsinki, Finland, specializes in end-to-end AI-driven solutions, serving customers like Allianz, Philips, Rolls-Royce, and Unilever. Their expertise will further accelerate AMD's AI strategy, benefiting global customers with tailored AI models and solutions.

It is worth to note that Silo AI has been a pioneer in scaling large language model (LLM) training on LUMI, Europe’s fastest supercomputer powered by over 12,000 AMD Instinct MI250X GPUs.

Founded in 2017 by group of visionary individuals, Silo AI is Europe's largest private AI lab and on a mission to build a flagship AI company. They collaborate with industry leaders to create smarter products and businesses by integrating cutting-edge AI into core operations. The company expertise spans machine learning, computer vision, and natural language processing. Notably, they've successfully implemented over 200 AI solutions across diverse markets, serving clients like Allianz, Philips, Rolls-Royce, and Unilever.

Silo AI CEO and co-founder Peter Sarlin will continue to lead the Silo AI team as part of the AMD Artificial Intelligence Group, reporting to AMD senior vice president Vamsi Boppana. The acquisition is expected to close in the second half of 2024.

“Across every industry, enterprises are looking for fast and effective ways to develop and deploy AI solutions for their unique business needs,” said Vamsi Boppana, senior vice president of the Artificial Intelligence Group at AMD. “Silo AI’s team of trusted AI experts and proven experience developing leadership AI models and solutions, including state-of-the-art LLMs built on AMD platforms, will further accelerate our AI strategy and advance the build-out and rapid implementation of AI solutions for our global customers.”

Silo AI has introduced the multilingual large language model (LLM) called Poro 34B. It addresses language bias in AI and exhibits best-in-class performance for low-resource languages while excelling in English. Silo AI has also launched Poro, a revolutionary open-source AI model with a special focus on European languages. Poro aims to extend multilingual AI capabilities significantly, empowering developers and researchers.

Silo AI marks the latest in a series of acquisitions and corporate investments to support the AMD AI strategy. AMD has invested over $125 million across a dozen AI companies in the last 12 months and also acquired Mipsology and Nod.ai to expand the AMD AI ecosystem, support partners and advance leadership AMD computing platforms.

In 2022, AMD completed the all-stock acquisition of Xilinx, a leading FPGA maker, in a deal worth $49 billion. This strategic move strengthens AMD's position in high-performance and adaptive computing, combining their complementary products and IP.

AMD also acquired Pensando Systems, enhancing their innovation and diversity. Pensando brings expertise in areas like smart networking and software-defined infrastructure.

Tech Mahindra Opens New BPS Business Centre in Latvia, Northern Europe

Tech Mahindra has just announced the expansion of its Business Processing Services (BPS) business in the Baltic States with a new centre in Riga, Latvia, officially the Republic of Latvia, which is a country in the Baltic region of Northern Europe.

The new market expansion is a significant part of Tech Mahindra's ongoing strategy to deliver innovative technology solutions worldwide. The centre was inaugurated by Mr. Tanmaya Lal, Ambassador of India to the Republic of Latvia & Sweden, Mr. Jurģis Miezainis, Parliamentary Secretary of the Ministry of Economics, Republic of Latvia and Mr. Vilnis Ķirsis, Mayor of Riga.

The expansion of BPS business will help Tech Mahindra bolster its presence in Europe, providing local and regional customers with direct access to its comprehensive range of services, including 5G, Metaverse, Blockchain, Quantum Computing, Cybersecurity, and Artificial Intelligence. Tech Mahindra will establish a state-of-the-art Business Process Outsourcing (BPO) service within the cutting-edge Jaunā Teika complex.

Birendra Sen, Business Head, Business Process Services, Tech Mahindra, said, "Tech Mahindra's expansion into the Baltic States is a pivotal stride in our growth strategy. Latvia's thriving tech ecosystem, skilled workforce, robust IT infrastructure, and favorable government policies make it an ideal hub for accessing European markets. This expansion highlights our commitment to regional growth and technological advancements in Europe, further empowering our customers to scale at speed and adapt their businesses like never before.”

The centre will employ approximately 500 professionals, further extending Tech Mahindra’s global workforce which spans over 145,000+ employees across 90+ countries.

Vilnis Ķirsis, Mayor of Riga, said, "The opening of Tech Mahindra's new service centre in Riga once again confirms the city's development and growing competitiveness. Riga is becoming increasingly attractive to global business service centres. The presence of these centres promotes both growth and innovation in research and smart technology. High-quality services improve the local business environment and increase company efficiency. We welcome Tech Mahindra to Latvia!"

Tech Mahindra’s commitment to environmental sustainability is exemplified by the new office in Jaunā Teika, Latvia’s premier business hub renowned for its dedication to innovation and sustainability. This facility is BREEAM certified, a globally recognized program administered by the Building Research Establishment (BRE). The office complex meets the highest standards of sustainable building design and features the largest electric car charging station in the Baltics, extensive multi-story parking, and adaptable office layouts to meet the diverse needs of its occupants.

Viktors Savins, CEO at EfTEN Capital Latvia, said, “The successful attraction of global corporations such as Tech Mahindra represents a notable accomplishment for property owners and our country, particularly against a slower Riga office market in recent years. These collaborations strategically position our capital as a dynamic and competitive hub for technology enterprises, contributing positively to the local economy, workforce, and overall reputation.”

Tech Mahindra Business Process Services is at the forefront of future-ready technology and has 55+ delivery centers in 15 countries that provide services in 50+ languages to 270+ global customers.

About EfTEN Capital:

EfTEN Capital is a leading real estate fund management company in the Baltic region, focusing on commercial real estate investments and offering comprehensive asset management services. With a solid track record in managing a diversified portfolio of properties, the firm aims to provide investors with attractive returns while focusing on responsible investment practices.

"EfTEN Capital" Latvian portfolio includes shopping center "Domina Shopping", office complex "Jaunā Teika", office buildings "Tērbatas Biznesa Centrs", "Duntes biroji" and "Blaumaņa Centrs", headquarters of the Latvian national airline "airBaltic", logistics centers "EfTEN Logistics Bergi", "EfTEN Logistics Piepilsetas", "EfTEN Logistics Ķekava" and "DSV logistics center", business and industrial complex "Technological Park Jūrkalne" and shopping center "RAF Centrs" in Jelgava. More: www.eften.lv

All About EU AI Act: The World's 1st Legal Framework for Artificial Intelligence

On March 13, 2024, the European Parliament adopted the Artificial Intelligence Act (AI Act) that was proposed by the European Commission on April 21, 2021, and it is expected to enter into force at the end of the legislature in May.

The EU's AI Act is the first comprehensive legal framework for AI in the world, establishing rules on data quality, transparency, human oversight, and accountability across the Europe. The act also aims to ensure that AI systems respect fundamental rights, safety, and ethical principles, and address risks of very powerful AI models.

The AI Act divides technology into categories of risk hazards — Unacceptable, High, Medium, and Low. Technology that is considered "unacceptable" will be banned. The act also aims to guarantee the safety and fundamental rights of people and businesses when it comes to AI, and strengthen uptake, investment, and innovation in AI across the EU.

Below're some prominent features of the AI Act:

Risk-Based Approach: The Act classifies AI systems based on the risk they pose, ranging from 'unacceptable' risks, which are banned, to 'high-risk' systems, which are authorized but subject to strict requirements.

Fundamental Rights: The Act ensures that AI systems respect fundamental rights, safety, and ethical principles.

Annex III: This annex is crucial as it lists AI applications that must comply with most of the Act's requirements.

Effect on The Global Technology Landscape

The EU AI Act is expected to have a significant impact on countries around the globe, similar to the influence of the EU's General Data Protection Regulation (GDPR). Here are some ways it could affect other nations:

Global Standard: The EU AI Act may set a new global standard for AI regulation, influencing other countries to adopt similar measures. 

Tech Companies Compliance: Global tech companies operating in the EU will need to comply with the Act, which could lead to changes in their AI systems worldwide.

Innovation and Regulation Balance: The Act aims to balance innovation with robust regulation, which could serve as a model for other countries looking to regulate AI without stifling technological advancement. 

Global Digital Rule-Maker: The EU's role as a global digital rule-maker could be strengthened, potentially leading to a broader adoption of its regulatory framework.

Risk Awareness: The Act raises awareness of the risks associated with AI applications, which could influence global discourse and policy-making.

Overall, the EU AI Act could redefine the tech landscape by setting precedents for AI governance that other countries might follow.

Ethics, Bias and Regulatory Concerns Slowing European Adoption of Generative AI, Yet Europe Will Increase Spending in 2024 – Report

European Firms Struggle to Generate Value from Generative AI, Yet Will Double Spending in 2024: Infosys Research

Ethics, Bias and Regulatory concerns slowing European adoption

Europe is doubling down on generative AI (GenAI) investment but is on a more cautious path than North America, according to new research from the Infosys Knowledge Institute (IKI), the research arm of Infosys (NSE, BSE, NYSE: INFY). The research forecasts that European companies will increase GenAI investments by 115% in the next year, to $2.8 billion.

The pace of investment is slower than in North America where spend is expected to reach close to $6 billion. This more cautious spend is largely due to concerns around ethics and bias driven by the more regulated European market. However, European companies remain optimistic about generative AI’s impact on their business and are much more confident in their ability to train and recruit talent, as well as manage and control generative AI systems.

For the Generative AI Radar 2023 – Europe report, IKI surveyed 1,000 respondents from companies across 11 Western European countries (Belgium, Denmark, Finland, France, Germany, Iceland, Luxemburg, Netherlands, Norway, Sweden and United Kingdom). The research, which is also supported by interviews with business leaders and AI practitioners, highlights the following insights.

France and Germany lead spending and adoption

• France and Germany are expected to double spending on GenAI, to nearly $730 million in France and almost $610 million in Germany, in the next 12 months.
• In both countries, about 50% of companies have either implemented GenAI or have implemented and have created business value from it – compared with roughly 40% in UK, Benelux, and Nordics.
• UK is expected to move past Benelux into third place in the next 12 months, more than doubling spend to nearly $510 million.
• Nordic companies are expected to increase spending at the highest rate in the next 12 months – more than 2.5x their current spending, to more than $470 million.

European companies are deploying GenAI, but few have created business value

• Despite high levels of experimentation and implementation with GenAI, only 6% of European companies generate business value with their GenAI use cases. France, Germany and the UK lead the region, with about 10% of companies reporting value delivered by their GenAI projects.

European companies are more focused on ethics and bias, and more confident about managing and controlling GenAI than North American companies

• European companies identified ethics and bias as the second biggest challenge, after data privacy and security. North American companies are less concerned with ethics and bias – where it was the fourth biggest challenge behind issues such as data privacy, unusable data and lack of skills.
• European companies also have more boards of directors involved in GenAI policies, reflecting their concerns around regulations. In Europe, boards of directors set regulations and policies at more than 30% of companies and are primary sponsors nearly 20% of the time.
• More than 70% of European respondents are confident in GenAI management abilities.

Balakrishna D. R. (Bali), Executive Vice President, Global Head of AI and Industry Verticals, Infosys, said “Generative AI is driving phenomenal transformation across industries, and investment is happening at a rapid pace. Against the backdrop of an ever-evolving regulatory landscape, organizations must embed responsible AI techniques to not only improve data quality and management, but effectively manage ethics and bias risks. Our research has shown that for European businesses to derive business value, they must develop and evolve an AI-first operating model that prioritizes business transformation and skills development, and enables them to maximize human potential.”

Full report — here.

Methodology

Infosys used an anonymous format to conduct an online survey of more than 1,000 business executives across industries across Belgium, Denmark, Finland France, Germany, Iceland, Luxemburg, Netherlands, Norway, Sweden and United Kingdom. To gain additional, qualitative insights, the researchers interviewed subject matter experts and business leaders.

Infosys Expands Its Footprint in Europe with a New Proximity Center in Sofia, Bulgaria

To Help Accelerate AI and Cloud-led Digital Journeys for Clients in the Region

The company commits to growing its local workforce to 500 employees over the next four years

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a new proximity center in Sofia, Bulgaria as part of its continued growth in Europe. In line with Infosys’ strategy to amplify human potential hiring local talent, the new state of the art center will enable Infosys to attract, re-skill, and up-skill 500 new employees. Over the course of the next four years, these new employees will work on global opportunities around next-gen digital technologies including Infosys Cobalt Cloud Solutions, Infosys Topaz AI & Automation, Data and Insights, IoT, 5G, and software engineering.

Bulgaria has built a reputation as an attractive market for IT development thanks to its advanced IT infrastructure, strong pool of local IT specialists and excellent IT knowledge. Located in the nation’s capital, this center will provide an ideal environment for companies spanning various sectors such as financial services and retail, both within Bulgaria and throughout Europe, to convene and drive digital transformation efforts. Partnering with these organizations, the center will serve as a hub for ideating, incubating, creating, and scaling innovative emerging technology-based solutions.

Serving global and European customers, the center will support customers accelerate their AI and Cloud-led digital journeys and will further strengthen Infosys’ existing client relationships in Europe, particularly in manufacturing, retail and financial services sectors. Infosys will also use this center to rapidly scale up teams across digital and analytical capabilities as well as SAP and cloud.

Milena Stoycheva - Minister of Innovation and Growth, Bulgarian Government, said, "The opening of the new Centre in Sofia is a testament to Infosys’ commitment to fostering talent in our country. With a commitment to employing a 500 strong workforce over the next four years, we’re excited to see the company contribute to our local economy and bring new skills and opportunities for talent working in the technology sector.”

Kosta Cholakov, Chief Executive Officer, DZI Insurance, said, “Infosys is one of our strategic partners on our digital transformation journey and we’re thrilled to see Infosys expand its presence to Bulgaria, moving ever closer to its clients. We look forward to continuing collaborating together driving innovation with next generation technologies throughout our organization, underpinned by the wealth of talent and expertise.”

Dinesh Rao, Executive Vice President, Co-Head of Delivery, Infosys, said, “We are dedicated to continuing to grow our footprint in Europe to bring our capabilities, skills and expertise ever closer to our clients. Bulgaria is renowned for its excellent IT talent, and we’re excited to build an exemplary workforce that meets the demands for next generation skills and solutions, with a focus on catalyzing progress of our client’s AI and cloud first transformation. Bringing together the strength of local talent with our industry-leading expertise and innovation we’re confident the new center will serve as a hub of innovation to help shape digital Europe.”

Google and Goldman Sachs Partner with Infobip to Launch Mentorship Program for Startups of the Youngest EU Member Country

Aerial Photo of a Croatian  Island [Photo by Palo Cech from Pexels]

US-based tech and finance leaders eyeing Croatia as the next European Silicon Valley

16 Croatian startups included in the Scale|Croatia mentorship program now have access to the best tech and financial experts advising them on the development of their businesses

Infobip is the bridge between the vibrant Croatian startup ecosystem and the global leaders

US-based Google and Goldman Sachs today announced a new partnership with Infobip to launch an innovative mentorship program for startups from Croatia, the youngest EU member state with a population of more than 4 million. The country already has created its first two unicorns and its potent startup community is increasingly standing out in the Southeastern Europe region, and within the EU. Infobip, the leading global cloud communications platform, is one of the examples of a successful startup that started in small Croatia and reached unicorn status.

Google and Goldman Sachs recognized Infobip as a leader in the tech ecosystem in Croatia and the region. The Scale|Croatia joint mentorship program is open to all Croatian-based startups from Infobip’s Startup Tribe program. In the first year of Scale|Croatia, founders from 16 Croatian startups have received access to a 4-month mentorship program, enabling even faster and better-quality development and scaling of their businesses.

“Jigsaw is honored to participate in the Scale|Croatia mentorship program to further develop the tech ecosystem in this emerging European hub. We look forward to continuing to partner with emerging leaders of innovative companies in the region,” said Scott Carpenter, Director at Google Jigsaw.

Startup founders will get dedicated mentors from Google and Goldman Sachs with whom they can consult on various aspects of business development - product development, fundraising, marketing, sales and other fields.

“We decided to pilot this project with Croatian startups as we noticed a pattern of almost unlikely - but outstanding success stories. The data shows remarkable results for the up-and-coming Croatian tech sector. Croatia seems to be on a path that’s very similar to Estonia and Israel in the earlier days of their ecosystem, so the timing to engage with this particular group of young entrepreneurs feels very opportune“, said Jared Cohen, Co-Head of Applied Innovation and President of Global Affairs at Goldman Sachs.

Among the 16 startups from Croatia, Osijek-based Orqa stands out - a world leader in developing FPV goggles for drone pilots, and other startups developing products.

"We are very pleased that through Scale|Croatia we can help Croatian startups to more easily reach global leaders such as Google and Goldman Sachs. The fact that such large companies recognized the potential of our startup ecosystem is validation for us at Infobip, but also an important honor for the tech sector in Croatia, which positions itself as a new European tech hub, the European Silicon Valley alike. I wish much luck to all startups in the program and I am convinced that they will use all the opportunities it brings them,” concluded Nikola Pavešić, Director of Startups at Infobip.

The program was launched in June with an on-site event in New York City, attended by the majority of the 16 startup founders. The on-site kick-off was held in both Offices of Goldman Sachs and Google, where participants had an opportunity to listen to experienced speakers from both companies.

"The program opened access to a completely new level of expertise for Croatian startups, which unfortunately cannot be found at home. To be specific, we found it extremely useful to gauge the experience of Google in the field of product management, as well as the experience that Goldman Sachs has in listing tech companies on world stock exchanges. We are extremely grateful to Infobip and the Infobip Startup Tribe for everything they are doing for the regional startup ecosystem, and I hope that other large local companies will be inspired by this", said Srđan Kovačević, co-founder and CEO of Orqa.

Currently, the startups are halfway through the program, and positive results have already been reported. The Scale series, if proves successful with the Croatia edition, it will serve as a blueprint for other regions across the globe as well.

“We are very pleased that, through the Scale|Croatia, we can help domestic startups reach global leaders such as Google and Goldman Sachs, which ten years ago - when I was personally running my startup, was nearly impossible. Now with programs like this, this is no longer the case, and I am extremely proud that we at Infobip now serve as a bridge for all startups in the region to connect to the world’s center of the tech industry", concluded Ivan Burazin, Chief Developer Experience Officer at Infobip.

About Infobip

Infobip is a global cloud communications platform that enables businesses to build connected experiences across all stages of the customer journey. Accessed through a single platform, Infobip’s omnichannel engagement, identity, user authentication and contact center solutions help businesses and partners overcome the complexity of consumer communications to grow business and increase loyalty. With over a decade of industry experience, Infobip has expanded to 70+ offices across six continents. It offers natively built technology with the capacity to reach over seven billion mobile devices and ‘things’ in 190+ countries connected directly to over 700 telecom networks. Infobip was established in 2006 and is led by its co-founders, CEO Silvio Kutić, COO Roberto Kutić and CTO Izabel Jelenić.

European Agri-Insurtech Startup IBISA Raises Seed Funding from India's Ankur Capital

Agri insurtech startup IBISA announced that Ankur Capital, an India-based leading early-stage venture capital fund focused on transformative technologies in deeptech and climate tech has joined its seed round. Luxembourg-based Insurtech startup IBISA is on a mission to empower the Agri value chain players with innovative weather protection insurance solutions.

Founded in 2019, IBISA started its operations in India with the DHAN Foundation to provide parametric insurance against drought coverage in Tamil Nadu. Fast forward to now, IBISA is scaling its operations in India with operations in Odisha, Karnataka, Telangana for coverage against excess rainfall, excess wind speed and drought. They have also opened a registered office in Feb 2022 in Bengaluru.

70% of the global food supply comes from smallholder farmers and more than 50% of the Indian workforce is into agriculture and allied sectors that contribute to just 20% of India’s GDP. With climate change happening at a rapid scale, most of these smallholder farmers are vulnerable to unforeseen climatic conditions that lead to damage of crops. It is not that there are not any insurance solutions to cater that, but there is a huge gap between the cost of insurance and the willingness to pay premiums and the relevance of the existing insurance products and the need of the farmers.

Speaking on the investment, Ritu Verma, Partner at Ankur Capital mentioned, “The unavailability of data has hampered the growth of the agricultural insurance industry in developing countries for decades. Legacy crop insurance involved long manual processes making them impractical for developing markets where smallholder farming is the norm, and parametric insurance has historically been unviable due to the lack of detailed climate-related datasets. We are excited to partner with IBISA to transform the scale of available parametric insurance options in countries like India with a vast addressable market.”

“Farming is an integral part of both our societal and economic infrastructure. The impact that the war in Ukraine is having on food prices and food security seriously underscores the importance of global agriculture. And yet the support isn’t there. With IBISA, we sought to create technology that would help reduce costs for the active players in the insurance space. Finding a way to responsibly protect farmers in the event of extreme weather, by slashing distribution and operating costs, making it affordable to many groups in the value chain. And it’s no small challenge. But we’re already seeing results. A small evidence of our success is the fact that when the Philippines was hit by Typhoon Odette in Dec’21, our insurance partner, CLIMBS was able to do payouts within 10 days after the typhoon hit Philippines with IBISA’s weather protection coverage in place.” said Maria Mateo Iborra, CEO & Co-founder, IBISA.

Apart from India, IBISA has its operations in New Zealand, Guatemala, Senegal, Philippines, and other African countries. With strong insurance and reinsurance partnerships across different geographies and tailor-made products for lack of rain, excess rainfall, extreme temperatures, excess wind speed and cyclones, IBISA is able to address the needs of various Agri value chain players.

So whether there is a risk pertaining to defaults, securing the supply chain, strengthening farmer connection or increasing sustainability practices in agriculture, weather protection insurance solutions act as a tool to mitigate unforeseen climate-risks and empower organizations and ultimately farmers to increase their resilience against climate change.

The company is also in talks with a number of large lenders, food processors, and Agritech clients across different geographies to mitigate their credit risk against default, reduce their supply chain risks and increase their sustainability practices in agriculture and strengthen farmer connection with smallholder farmers in India and abroad.

If you consider climate risk as a threat to your business and value chain and want to expand into parametric climate insurance then get in touch with us at info@ibisa.network to discuss specific use cases.

Europe’s 1st Bitcoin ETF To Be Launched on Euronext Amsterdam By Jacobi Asset Management

First exchange-traded equity instrument for institutional investors to access Bitcoin in Europe

Largest exchange to list a Bitcoin spot ETF globally

First primary listing of a Crypto fund in the Netherlands

In a first for Europe, Jacobi Asset Management (Jacobi) announces the launch of the Jacobi Bitcoin ETF (the “ETF”) (BCOIN, ISIN: GG00BMTPK874) which will be listing on Euronext Amsterdam, part of Euronext, the leading pan-European marketplace from July.

The Jacobi Bitcoin ETF, which received regulatory approval from the Guernsey Financial Services Commission (GFSC) in October 2021, will begin trading in July on the Euronext Amsterdam Exchange under the ticker BCOIN. Custodial services will be provided by Fidelity Digital AssetsSM with Flow Traders and DRW facilitating trading as market makers.

CEO Jamie Khurshid said: “The Jacobi Bitcoin ETF will enable investors to access the underlying performance of this exciting asset class via a well-established and trusted investment structure. Our goal at Jacobi is to make digital asset investments simpler and more familiar for institutional and professional investors. We are delighted to be working with all our premier partners including Fidelity Digital Assets and Flow Traders who have supported us from inception and are an integral part of this European first as we list on Euronext Amsterdam”.

He added: “This is a significant step forward for Jacobi Asset Management. We have an ambitious vision and look forward to bringing an innovative product pipeline to the market very soon.”

“We are excited to be acting as lead market maker for Europe’s first Bitcoin ETF, which is another milestone in the development of the institutional digital assets space. This is also aligned with the growing demand from institutional investors who are looking to diversify their portfolios by adding Bitcoin and other digital assets. Flow Traders has been a longstanding supporter of enabling exposure in digital assets and we are delighted to be working with Jacobi Asset Management on this launch.” commented Edd Carlton, Institutional Digital Asset Trader at Flow Traders.

Legal support through the regulatory and listing process was facilitated by independent Dutch law firm Kennedy Van der Laan.

Emanuel van Praag, Attorney from Kennedy Van der Laan commented: “The first listed crypto ETF in the EU is indeed a proud achievement and we are happy that we were able to assist Jacobi Asset Management to achieve this goal.”

Jacobi Asset Management will provide European institutional and professional investors with access to the Jacobi Bitcoin ETF via a simple investment vehicle for a 1.5% annual management fee.

For further information, visit Jacobiam.com

Forex Regulation in the EU

Some Forex brokers are proud to report that they provide their services within the framework of European regulation. It is a kind of sign of quality for many traders.

Legal basis of Forex regulation in the EU

It is immediately worth noting that the European Union doesn’t have a single regulator, unlike other countries. However, this does not mean that no one controls Forex brokers in Europe. Each member state of the EU has its organization, whose functions include the regulation of activities in the financial markets. In contrast, each of the regulators has its own rules and requirements within the framework of their countries’ legislation.

In some countries, the regulators are the Central Bank (Ireland, Czech Republic), and in some countries, these are specially created organizations. The most famous of them are:

• The Financial Conduct Authority (FCA) of the United Kingdom;
• Federal Office of Financial Control (BaFin) of Germany;
• Cyprus Securities and Exchange Commission (CySEC);
• Malta Financial Services Authority (MFSA).

Despite this, each regulator sets its own requirements for Forex brokers, which may differ. Their regulation of activities in the foreign exchange market is regulated by a key document for all EU countries.

Requirements and features of the MiFID II Directive

One of the key features of the MiFID II directive is the possibility of so-called passporting within the EU. A Forex broker with a MiFID II license issued by one of the regulators has the right to operate throughout the EU, not only in the country whose regulator issued this license.

As mentioned above, each regulator makes its own requirements to the applicant. In turn, the MiFID II directive defines a minimum threshold for regulation, and the management of the regulator can tighten them following its national legislation.

For this reason, most Forex brokers seek to obtain a MiFID II license from the regulators of Malta and Cyprus, where they are not subject to such strict requirements as, for example, in the UK.

In general, the MiFID II directive is not a strict law but rather defines the framework within which the EU countries’ Forex regulators are required to carry out their activities.

Accordingly, some regulators are content with the minimum, while others are on the path of tightening their requirements to the directive’s values. The MiFID II directive has become a fairly effective tool and the companies from Forex broker ranking 2021 who have received a license enjoy very high confidence among traders.

How to choose a reliable Forex Broker

Since there is a large-scale competition between Forex brokers, they offer a whole range of different opportunities and advantages. However, choosing a broker is not an easy task for both new and experienced traders. Several key points, such as regulation and capitalization, estimate the reliability and competence of the organization. Certain objective criteria can measure these indicators.

However, when choosing a Forex broker, the most important thing is to determine which parameters are of interest to you. Considering your needs and your trading style, you will be able to detect not only outstanding characteristics but also potential bottlenecks.

Here is a list of questions that we suggest you decide on when choosing a broker:

• Areas of activity of a Forex broker.
• Is the broker/dealer activity regulated? If so, in which country is the regulation implemented
• How reliable is the broker's trading platform?
• Capitalization
• Is the company a broker or a dealer?
• Customer support
• Expenses: Structure of payments and commissions
• Account Types
• Does the broker offer any additional services?
• How are leverage and margin calls calculated?

You need to know this

Not all countries regulate in the same way, and they have different characteristics and requirements for financial registration.

Therefore, any investor/trader is recommended to choose a Forex broker registered in a country where a regulatory agency controls its activities. In addition, it is important to know whether the broker/dealer’s activities are regulated in an offshore territory or not since registration requirements are usually much more liberal in offshore countries.

How reliable is the broker's trading platform?

Depending on a particular trader’s hardware and software features, they may need either an installed program or an online application. Choosing the optimal platform for yourself is crucial for successful trading. Take a look at Forex broker ranking 2021 and decide about the best one.

In addition, it is essential to make sure that the trading platform is not subject to frequent crashes or freezes, especially during the release of economic news of global significance or global events when traders need a stable operation of the system.